Stop Wall Street Speculators From Driving Gas Prices Up

As the recession drags on, many Vermonters are working longer hours for lower wages and have endured gas prices that have hovered near $4 a gallon for more than a month. Gas prices in Vermont are 38 percent higher than one year ago. Excessive speculation in the oil markets is to blame. This week, Bernie introduced legislation to force regulators to stop speculators from driving up oil prices. Last year's Wall Street reform law required a clamp down on speculators, but the Commodity Futures Trading Commission has ignored the law. "The American worker is getting ripped off when they drive to work," Bernie said. "Wall Street speculators are jacking up oil and gas prices in the energy futures market. That must end."